04/27/2020

Support Growing for 501(c)(6) Inclusion in Paycheck Protection Program

COVID-19 relief for many organizations is still lacking

Another round of COVID-19 relief legislation passed through Congress without addressing the needs of revenue-distressed 501(c)(6) associations, but there are encouraging signs that the message from ASAE and others is being heard on Capitol Hill.

After 501(c)(6) associations were left out of the Paycheck Protection Program (PPP) created by Congress in the CARES Act several weeks ago, ASAE and thousands of other associations have blanketed Capitol Hill with requests for emergency assistance for the nation’s association community, which is working hard to meet the needs of essential industries and professions while sapping their own diminishing resources for basic operations.

The latest $484 billion pandemic relief bill, which passed the House on April 23, provides another $321 billion for the PPP to keep small businesses and other eligible entities afloat during the ongoing economic downturn, but it does not expand eligibility for the loans to other types of organizations like associations.

Please select this link to read the complete article from Associations Now.